NATIONAL LAW SCHOOL OF INDIA UNIVERSITY

BANGALORE

MBL PART II ANNUAL EXAMINATION (JUNE) 2016

INVESTMENT LAW
Marks: 100
Time: 3 Hours
Instructions
1. No clarifications can be sought on the Question Paper;
2. Electronic gadgets of any kind are not permitted inside the
Examination Hall.
3. Bare Acts, notes, articles, books or any other material are not
permitted inside the Examination Hall.
4. Answer ANY FIVE questions. All questions carry equal marks.

Question No. 1

Write short note on any four of the following: (4 x 5 = 20 Marks)

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a. Lead Manager
b. Syndicate Member
c. IPO Grading
d. Book Building
e. Underwriting
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Question No. 2

Explain the role of following enactments and regulations in Securities

dealing and transactions:
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a. Security Contract (Regulation) Act, 1956

b. Securities and Exchange Board of India Act, 1992
c. SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2009
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d. SEBI (Foreign Portfolio Investment) Regulations, 2015

(4 x 5 = 20 Marks)

Question No. 3

a. What do you understand by Listing of Securities and what are its

objectives?
b. What are the various kinds of Listing of Securities? Explain.
c. What are the various listing requirements mandated under Securities
Contract (Regulation) Rules? (5+5+10 = 20 Marks)

Question No. 4
Jexa Inc., an e-commerce company of US, with global assets of USD 1
Billion and global turnover of around USD 2 Billion has proposed to acquire
27 % equity share of Drapdeal Ltd., an e-commerce company registered in
India, with an assets of INR 1200 Crores in India. For the purpose of
acquisition, Jexa has entered into a Share purchase agreement with
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Drapdeal on May 20, 2016. Drapdeal is a listed company having its shares
listed on National Stock Exchange.

Ecommerce market in India is growing rapidly with various players in

market holding market share as follows:
E-tailers Market Share
Slipkart 24%
Damazon 20%
Drapdeal 15%
EMart 12%
Hyntra 10%
Bindia Times 8%
Prediff 6%
Askmemarket 5%

Advice Jexa Inc. who has approached you on following matters:

a. Compliances under FEMA Regulations

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b. Compliances under Competition Law
c. Compliances under SEBI Regulations
(20 Marks)

Question No. 5
Explain the process and conditions for raising funds through Depository
Receipts in following two cases:
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a. Foreign company wants to raise funds from India
b. Indian Company wants to raise funds from abroad
(10+10 = 20 Marks)
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Question No. 6

a. What are the various circumstances which triggers the mandatory

open offer as per SEBI (SAST) Regulations, 2011?
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b. Explain:

1. Voluntary open offer

2. Competing offer
(10+10 = 20 Marks)

Question No. 7

Distinguish between:
a. Foreign Direct Investment and External Commercial Borrowing
b. Primary Market and Secondary Market
c. Rights Issue and Preferential Issue
d. Book Building and Fixed Price Process
(4 x5 = 20 Marks)

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 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY
BENGALURU

II YEAR MBL ANNUAL EXAMINATION (JUNE) 2016

INSURANCE LAWS
Marks: 100
Time: 3 hours
Instructions
1. No clarifications can be sought on the Question Paper;
2. Electronic gadgets of any kind are not permitted inside the
Examination Hall.
3. Bare Acts, notes, articles, books or any other material are not
permitted inside the Examination Hall.
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Answer must be brief but covering all points on issue. Additional weight-age
will be given to bring-in relevant case law on the point. Please develop your
answer by making visible paragraphs.

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Answer to question no.7 is compulsory and any four from questions 1-6
All questions carry equal marks

1. Define Contract of Insurance? Discuss the fundamental principles of

Insurance with decided cases.

2. What is premium? What is the effect of non-payment of premium on

the policy? What reliefs are provided against the forfeiture of the
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policy for non-payment of premium?

3. Explain different types of losses covered by the fire policy.

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Substantiate with the help of decided cases.

4. Discuss the important amendments under the Insurance Laws

(Amendment) Act, 2015.
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5. Explain the about the Integrated Grievance Management System

under the Insurance Regulatory and Development Authority of India.

6. Write short notes on:

a. Doctrine of Causa Proxima

b. Doctrine of Reinstatement

7. Answer the following:

a. A co-operative society entered in to an agreement with one of its

members to do life insurance business on the condition that he
should pay half of his commission to the society. The member paid the
commission to the society for some time and then stopped paying it.
Examine the enforceability of the agreement by the society in a court
of law.

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b. Kumar shipped the goods at his own risk. The goods were washed
away, the ship owner disclaimed liability on the ground that they were
booked at the owner's risk. Whether insurer is liable for the loss of
goods?

c. Ankur obtained Mediclaim Policy in his name. Within one month of

the policy obtained, he was admitted to the hospital. The Company
issued the certificate to Ankur that he is entitled to receive the
benefits under the policy, but subsequently repudiated the claim
amount on the ground that illness occurred within a month from
commencement of the policy. Whether company estopped from raising
objection? Explain.

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 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY
BANGALORE
II YEAR MBL ANNUAL EXAMINATION (JUNE) 2016
LAW RELATING TO INTERNATIONAL COMMERCIAL TRANSACTION

Marks: 100
Time: 3 hours
Instructions
1. No clarifications can be sought on the Question Paper;
2. Electronic gadgets of any kind are not permitted inside the
Examination Hall.
3. Bare Acts, notes, articles, books or any other material are not
permitted inside the Examination Hall.
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Answer ANY FIVE of the following. All questions carry equal marks.

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1.a) Define ‘bill of lading’. How do you distinguish a bill of lading from ‘mates’
receipt?

b) Discuss the concept of ‘seaworthiness’ under the Hague Rules.

2. Write brief comment on the following:

a) Liability of the Shipper (consignor) for the damage caused due to
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dangerous nature of the goods

b) Inherent defect as legal defense by the sea carrier

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3. Critically comment on the liability of the independent contractors under the

Hague regime and the Hamburg regime.

4.a) Discuss the role of ‘Air Consignment Note’ and the ‘Air Waybill’ under the
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Warsaw Convention of 1929 and the Hague Protocol of 1955, respectively.

b) Discuss the liability of the air carrier for causing personal injury to or death
of a passenger under the Hague Protocol of 1955 and the Montreal
Convention of 1999.

5. Critically evaluate the doctrines of ‘force majeure’ and ‘frustration of

contract’ under the Vienna Convention on International Sale of Goods, 1980
and under the Indian law, respectively.

6. a) Define and discuss ‘foreign arbitral award’ under the Indian law
implementing the New York Convention, 1958.

b) Outline the Indian judiciary’s demarcation of the doctrine of public policy

as a ground for not recognising and enforcing a foreign arbitral award.

7. Write short notes on:

a) The concept of ‘wilful misconduct’ in the Carriage by Air;
b) Definition of ‘carrier’ in the ‘Carriage of Goods by Sea Act, 1925’.
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 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY
BANGALORE

MBL PART II ANNUAL EXAMINATION (JUNE) 2016

LAW OF INTELLECTUAL PROPERTY RIGHTS

Time: Three Hours

Max. Marks: 100

Instructions
1. No clarifications can be sought on the Question Paper;
2. Electronic gadgets of any kind are not permitted inside the
Examination Hall.
3. Bare Acts, notes, articles, books or any other material are not
permitted inside the Examination Hall.
4. Answer any FIVE questions. All questions carry equal marks.
5. Answers should be supported by reference to relevant provisions
and appropriate case laws.

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1. Examine ‘first ownership’ of copyright works. Discuss the special

rights of the author. Refer to decided cases.

2. Discuss the ‘Novelty’ ‘capable of industrial application’ and ‘having

inventive step’ as criteria for gant of patent for an invention that has
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passed ‘patentable subject matter’ test.

3. Examine with the help of case laws the tests for determination of
Infringement of Trademarks.
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4. Explain:
a. Assignment and Licensing of Trademarks
b. Fair use under Copyright law
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5. What are the essential requirements for registration of Design? What

are the excluded subject matter under Designs Act in India? State
breifly the protection of unregisted Designs Rights in UK.

6. Discuss:
a. Geographical Indications protection under International
Conventions
b. Doctrine of Equivalents

7. Write short notes on four of the following:

a. Originality under copyright law
b. Patent cooperation Treaty
c. Moral Rights
d. Madrid Protocol
e. Protection of Plant varieties
f. Traditional knowledge Digital Library

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 NATIONAL LAW SCHOOL OF INDIA UNIVERSITY
BANGALORE

MBL PART II ANNUAL EXAMINATION (JUNE) 2016

TAXATION OF CORPORATIONS & COMMODITIES

Marks: 100
Time: 3 hours
Instructions
1. No clarifications can be sought on the Question Paper;
2. Electronic gadgets of any kind are not permitted inside the
Examination Hall.
3. Bare Acts, notes, articles, books or any other material are not
permitted inside the Examination Hall.
4. ALL QUESTIONS CARRY EQUAL MARKS.

PART A
Answer ANY 4 Questions: 4 X 10 = 40 Marks

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1. Tax avoidance and Tax evasion erode the tax base. How and what is the
judicial attitude towards these issues?
2. Examine the nature and structure of Taxation under the Constitution of
India.
3. What are the essential features of inter-state sale under the Central
Sales Tax Act, 1956?
4. What are the salient features of ‘Offences and Prosecutions’ under Chapter
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XVI of Customs Act, 1962?
5. Mention the basic conditions for levy of excise duty under the Central
Excise Act, 1944.
6. Discuss the broad features of “Double Taxation Avoidance Agreement”
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(DTAA).

PART B
Answer ANY 4 Questions: 4 X 10 = 40 Marks
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7. Taxable Event under Customs Act, 1962

8. Taxation of Software
9. Captive Consumption under Central Excise law.
10. Transfer Pricing under Income Tax Act, 1961
11. Constitutional validity of Service Tax
12. Tax Haven
PART C
Answer BOTH Questions: 2 X 10 = 20 Marks

13. “X” has imported grains from abroad. Customs Authority confiscated it stating
that under the import and export control order import of grains fit for human
consumption is prohibited. He imported grains for animal feeding and hence they
are fodder and not food grains. Therefore, goods imported should be released
without taking any further action. Is this contention legally correct? Discuss with
reasons and judicial decisions, if any.

14. A Private Ltd Company had its premises in the shape of a big hall. It converted
the hall into a number of small rooms in order to make it more suitable for office
purposes. Can the expenditure incurred be deducted for tax purposes? Argue on
both sides.
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